Demand at U.S. 3-year note sale weakest since November

Reuters Staff

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May 8 (Reuters) - Overall bidding at the $31 billion U.S. Treasury three-year note auction on Tuesday fell to its lowest since November with the yield coming in at 2.664 percent, the highest yield at a three-year auction in 11 years, Treasury data showed.

The ratio of bids to the amount of three-year notes offered was 2.76, matching the level seen at a three-year auction in November. The barometer of auction demand was 2.85 at the prior three-year note sale in April. (Reporting by Richard Leong in New York Editing by Jeffrey Benkoe)